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( Hyunbae Chun ),( Jung Hur ),( Nyeong Seon Son ) 한국경제학회 2020 The Korean Economic Review Vol.36 No.2
In recent years, multinational enterprises (MNEs) originating from Asian countries, such as China and Korea, have rapidly expanded their global operations. However, the employment effects of these MNEs on their home countries have rarely been studied. By using Korean firm-plant matched data over the period of 2008-2013, we examine the effects of MNEs on domestic plant turnover and job growth. We find that Korean MNEs are more likely to close down their domestic manufacturing plants and open new plants than non-MNEs. Along with active plant turnover, Korean MNEs exhibit great active job reallocation across their domestic manufacturing plants within firms, without resulting in net job loss. In sum, Korean MNEs participating in Factory Asia have restructured their domestic manufacturing bases rather than hollowing them out.
Cross-Border Vertical Integration and Technology New Evidence for Property Rights Theory
( Hyunbae Chun ),( Jung Hur ),( Doyoung Kim ),( Nyeong Seon Son ) 한국산업조직학회 2016 한국산업조직학회 정책세미나 논문집 Vol.2016 No.1
We empirically test the property rights theory for multinational firms’ decision on cross-border Vertical integration. To examine its unique predictions that alternative theories, such as the transaction cost economics, do not imply, we investigate not only the impact of the importance of producers’ relationship-specific investment on vertical integration decision but also that of suppliers’ relationship-specific investment. Using data on Korean multinational firms in the producing industries and their foreign affiliates in the supplying industries, we find that cross-border backward vertical integration is positively related to the R & D intensity of domestic producing industries, and negatively related to that of foreign supplying industries. In the growing literature on the boundaries of multinational firms, we provide novel test results using a firm-level dataset that the property rights theory can explain multinational firms’ decision on cross-border integration.
Hyunbae Chun,Jung Hur,Doyoung Kim,Nyeong Seon Son 서울대학교 경제연구소 2015 서울대학교 경제연구소 학술대회 논문집 Vol.2015 No.1
We empirically test the property rights theory for multinational firms’ decision on cross-border vertical integration. To examine its unique predictions that alternative theories, such as the transaction cost economics, do not imply, we investigate not only the impact of the importance of producers’ relationship-specific investment on vertical integration decision but also that of suppliers’ relationship-specific investment. Using data on Korean multinational firms in the producing industries and their foreign affiliates in the supplying industries, we find that cross-border backward vertical integration is positively related to the R&D intensity of domestic producing industries, and negatively related to that of foreign supplying industries. In the growing literature on the boundaries of multinational firms, we provide novel test results that the property rights theory can explain multinational firms’ decision on cross-border vertical integration.